TLDR

  • Sam Bankman-Fried has submitted a request for a new trial concerning his conviction for FTX fraud, with the motion filed by his mother, Barbara Fried, a retired Stanford law professor.
  • The motion contends that testimony from former FTX executives Daniel Chapsky and Ryan Salame could potentially weaken the prosecution’s arguments regarding FTX’s financial standing.
  • Bankman-Fried is currently serving a 25-year prison sentence following his conviction on seven criminal charges related to the misappropriation of customer funds.
  • He has requested that a different judge preside over the review of this motion, alleging that the trial judge, Lewis Kaplan, displayed bias during the proceedings.
  • The FTX bankruptcy estate is continuing to distribute billions to creditors in 2025 as part of its structured repayment plan.

Sam Bankman-Fried has petitioned a federal court for a new trial on the fraud charges stemming from the collapse of FTX. The former CEO of the cryptocurrency exchange submitted the motion through his mother, Barbara Fried, on Thursday in Manhattan federal court.

The motion asserts that new witness testimony could potentially undermine the government’s case. Bankman-Fried specifically highlighted testimony from former FTX executives Daniel Chapsky and Ryan Salame as potentially beneficial to his defense.

Neither of these executives testified during the initial trial. Salame previously pleaded guilty to charges related to campaign finance and fraud and is currently serving a seven-and-a-half-year prison sentence.

This filing represents a separate initiative from Bankman-Fried’s formal appeal. Motions for new trials are subject to stringent legal standards and are infrequently granted by the courts.

Bankman-Fried was convicted in 2023 on seven criminal counts. These charges were related to the improper use of customer funds at FTX and its associated trading firm, Alameda Research.

He received a 25-year prison sentence for his involvement in the fraud. The case has become one of the most prominent cryptocurrency fraud prosecutions in history.

Judge Recusal Request

The motion also includes a request for a different judge to review the case. The filing alleges that trial judge Lewis Kaplan demonstrated “manifest prejudice” during the proceedings.

These arguments echo points that were raised during his prior appeal hearing. His legal counsel argued that Kaplan improperly prevented the defense from informing the jury that sufficient funds were available to repay investors.

In November, appellate judges expressed skepticism regarding some of Bankman-Fried’s arguments. Circuit Judge Maria Araújo Kahn pointed out that the government’s case focused on misrepresentations made to investors about the utilization of their funds.

Barbara Fried submitted the 35-page document to the court. The filing indicates that Bankman-Fried is representing himself in this particular matter.

FTX Bankruptcy Repayments

While Bankman-Fried continues his legal challenges, the FTX bankruptcy estate is making headway with customer reimbursements. The estate disbursed billions of dollars to creditors in 2025.

Court-appointed administrators are overseeing the remaining assets. They are continuing to implement a phased repayment process to return funds to affected customers.

Further payouts are anticipated as asset recoveries progress. Claims reviews are still in progress as part of the bankruptcy proceedings.

President Donald Trump recently stated that he would not consider clemency for Bankman-Fried. The former FTX CEO maintains his innocence and continues to advocate his position on the social media platform X.